Phillips 66 (NYSE:PSX) Position Lessened by Advisory Resource Group

Advisory Resource Group lessened its holdings in Phillips 66 (NYSE:PSX) by 0.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 240,027 shares of the oil and gas company’s stock after selling 1,500 shares during the period. Phillips 66 accounts for approximately 5.8% of Advisory Resource Group’s portfolio, making the stock its 2nd largest holding. Advisory Resource Group’s holdings in Phillips 66 were worth $27,346,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its position in Phillips 66 by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,901,887 shares of the oil and gas company’s stock valued at $381,453,000 after purchasing an additional 16,941 shares in the last quarter. Mizuho Securities USA LLC raised its position in Phillips 66 by 7,549.0% during the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock valued at $328,625,000 after purchasing an additional 2,467,316 shares in the last quarter. Bank of Montreal Can raised its position in Phillips 66 by 63.4% during the third quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock valued at $214,120,000 after purchasing an additional 633,970 shares in the last quarter. ING Groep NV raised its position in Phillips 66 by 123.2% during the third quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock valued at $155,503,000 after purchasing an additional 653,032 shares in the last quarter. Finally, National Pension Service raised its position in Phillips 66 by 6.8% during the third quarter. National Pension Service now owns 1,001,734 shares of the oil and gas company’s stock valued at $131,678,000 after purchasing an additional 63,349 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on PSX. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Mizuho decreased their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Barclays decreased their price objective on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. UBS Group cut their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Finally, StockNews.com cut Phillips 66 from a “hold” rating to a “sell” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $148.00.

Phillips 66 Price Performance

PSX stock opened at $120.45 on Friday. The firm has a 50 day moving average price of $119.29 and a 200-day moving average price of $127.93. Phillips 66 has a 52-week low of $108.90 and a 52-week high of $174.08. The firm has a market capitalization of $49.74 billion, a price-to-earnings ratio of 24.38, a PEG ratio of 5.64 and a beta of 1.37. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same quarter in the previous year, the business earned $3.09 EPS. Equities research analysts forecast that Phillips 66 will post 7.14 EPS for the current fiscal year.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.